Citi Mortgage, a division of Citi Group, one of last legs to stand for the company as such divisions as Citi Residential that were closed in early ‘09 is the focus of our post. Citi Mortgage has time frames automatically set up for letter of authorizations to expire. This is currently set at 6 Months but if a homeowner so chooses to they can order a letter of authorization directly from the lender and once submitted that authorization is permanent until the homeowner chooses to remove the 3rd party from their account. To remove a 3rd party authorization that may be on file by submitting another letter to request to remove the 3rd party. Again they can choose from multiple options as to the length of time to authorize or to leave the authorization permanently until they otherwise choose to. CitiMortgage, like most banks, is notorious for not receiving faxed. Always make sure whether it is to confirm the authorization or to confirm the removal of an authorization always call CitiMortgage to confirm.
Letter of Authorization (LOA) processing time: Up to 1 week to process (7 Business days)
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